To help implement a new authority from the Bipartisan Infrastructure Law that exempts projects receiving financial support or credit enhancements from an eligible state energy financing institution (SEFI) from the Title 17 innovative technology requirement, LPO is launching the SEFI Toolkit. The SEFI Toolkit is an online resource to help applicants, potential SEFIs, and policymakers understand the process for becoming a SEFI, communicate the types of SEFIs that are eligible, and provide SEFIs a resource for sharing relevant financial assistance opportunities with prospective borrowers through the SEFI Partnership Portal. Additional SEFI program details and application requirements are described in the Title 17 Clean Energy Financing Program Guide and on the Title 17 Overview web page.
How State Organizations Can Become SEFIs
LPO is reviewing the qualifying statutory information for a variety of SEFIs. Many states will have several entities that would qualify as SEFIs. State, Tribal, or Alaska Native entities that are considering providing SEFI support to projects should identify statutory language and references and consult with LPO through a pre-application process. LPO will make determinations about SEFI eligibility consistent with the following statutory requirements:
- State Recognition: The jurisdiction of the organization must be recognized as a "State" within the meaning of 42 U.S.C. 16511(7) and section 202 of the Energy Conservation and Production act, 42 U.S.C. 6802 (this extends to US territories, for example).
- Entity Establishment: The term “state energy financing institution” means a quasi-independent entity or an entity within a State agency or financing authority established by a State.
- Purpose and Function: The organization must be established to provide financing support or credit enhancements for eligible projects and to create liquid markets for eligible projects or take other steps to reduce financial barriers to the deployment of existing and new eligible projects. (Note that many states’ entities have had their eligible purpose established through amending legislation.)
SEFIs that are interested in having their qualifications reviewed by LPO to determine their eligibility can contact LPO’s State Outreach and Business Development team at SEFI@hq.doe.gov.
Example List of Eligible SEFIs
The Department recognizes that there are many potential applicants that want to implement projects in various states that might need SEFI support to qualify for LPO financing. To help potential applicants and policymakers understand the potential SEFIs in a state, LPO is publishing this indicative list of eligible SEFIs.
This indicative list is not exhaustive of those entities that we have determined to be SEFIs, but rather is intended to show how there are a range of potential SEFIs across different states. Note that applicants for a proposed SEFI project can also follow the regular application process by requesting a Pre-Application Consultation to have DOE consider the eligibility of a potential SEFI even if the relevant State, Tribal, or Alaska Native entity is not on the list below.
Name of SEFI
LPO encourages potential applicants to talk to our State Outreach and Business Development team about their interest in various states. LPO also encourages potential applicants to talk directly to the variety of state agencies and quasi-public agencies that might qualify as SEFIs and identify whether they are prepared to invest in a project that could qualify for LPO financing; and then to get in touch with LPO to continue the conversation about determining if an entity qualifies as a SEFI.
SEFI Partnership Portal
SEFI-supported projects present opportunities to maximize the impact of state funding for these initiatives by helping eligible projects gain access to debt capital through LPO’s Title 17 Clean Energy Financing Program.
SEFIs in many states may offer financing support or credit enhancements to entities that implement programs in a state agency’s various priority areas. For example, a state agency may provide grants, loans, or other financial assistance of up to a certain amount for potential applicants, including but not limited to private sector entities or municipalities, that achieve an objective outlined in the funding program. The way states refer to this kind of structure differs by state; but it may be referred to as a “Notice of Funding Opportunity,” “Request for Proposals,” or “Program Opportunity Notice,” among other terms.
LPO publishes and maintains the SEFI Partnership Portal, a list of programs where SEFIs have identified publicly available financial support opportunities relevant for potential LPO applications. The Portal provides a public resource for potential borrowers to LPO who are interested in identifying relevant SEFI project opportunities in these states. The Portal also provides SEFIs a dedicated place to publish state opportunities that could align with LPO financing. The Portal will be updated on a rolling basis.
Potential LPO Title 17 Clean Energy Financing applicants can use the SEFI Partnership Portal to meet a variety of objectives:
- Identify opportunities to align potential borrower project financing needs with state policy and SEFI funding objectives.
- Provide details to potential applicants about the kind of funding awards that are available from the SEFI, such as subordinate debt, mezzanine debt investments, a loan loss reserve, and more.
- Provide clarity about the overall amount of funding that is available for a particular SEFI program and for what duration the funding is available.
- Learn about the established timetables for SEFI-related financial opportunities, including publicly available information about application deadlines and timeframe for making relevant awards.
- Identify the appropriate contact information for SEFIs included in the SEFI Partnership Portal.
The following is a list of relevant financial opportunities published by SEFIs and that are relevant to project opportunities with potential LPO applicants. This Portal includes where interested parties can find out more information about SEFIs and relevant financial assistance programs.
Disclaimer: Please note that by enabling and publishing the SEFI Partnership Portal, LPO is not endorsing, sponsoring, or otherwise evaluating the qualifications of the organizations that are self-identifying themselves for placement on this website or the sufficiency of the financing support that may be offered by such organizations for purposes of eligibility for LPO financing under Title 17.
Description of Opportunity and Project Areas
Opportunity for Respondents to express interest in at least $5 million of financial support from the NJGF for potential clean energy projects in NJ. Priority project categories: Zero-Emission Transportation; Clean Energy Generation and Storage; and Building Decarbonization and Resiliency
Financing, green bonds, and tax exemptions for air quality improvement projects (e.g. efficiently designed buildings, energy efficiency, renewable energy generation, clean transportation, hydrogen)
* Check back soon for more information.
SEFIs interested in being represented on this list, or interested in exploring how to obtain a determination of SEFI eligibility for the purposes of the Title 17 Clean Energy Finance Program, should contact SEFI@hq.doe.gov.
Updated December 7, 2023